Planet Hollywood International, Inc. Completes its Tender Offer for BUCA, Inc.
24 September 2008 - 2:30PM
PR Newswire (US)
NEW YORK, Sept. 24 /PRNewswire/ -- Planet Hollywood International,
Inc. ("Planet Hollywood") announced today that it has completed its
tender offer for all outstanding shares of common stock of BUCA,
Inc. ("BUCA") (NASDAQ:BUCA). Planet Hollywood intends to complete
the acquisition as soon as reasonably practicable. The subsequent
offering period expired at 12:00 Midnight, ET, on September 23,
2008. Based on information provided by Wells Fargo Bank, N.A., as
the Depositary, as of such time, an aggregate of approximately
19,337,263 Shares (including 2,371 Shares subject to guarantees of
delivery) were validly tendered and not withdrawn pursuant to the
Offer, representing approximately 90.3% of the outstanding Shares.
Planet Hollywood intends to effect a "short-form" merger under
Minnesota law and BUCA will become a wholly-owned subsidiary of
Planet Hollywood. As a result of the merger, any shares of BUCA
common stock not tendered will be cancelled and (except for shares
held by Planet Hollywood or its subsidiaries, or shares for which
dissenter rights are properly demanded) will be converted into the
right to receive the same $0.45 in cash per share, without interest
and less any required withholding taxes, that was paid in the
tender offer. Following the merger, BUCA common stock will cease to
be traded on the NASDAQ Global Market. Altman Group, Inc. is the
Information Agent for the tender offer. For questions and
information regarding the tender offer and the subsequent offering
period, please call the Altman Group, Inc. at (866) 530-8628 (toll
free). About Planet Hollywood Planet Hollywood International, Inc.
is the creator and worldwide developer of consumer brands that
capitalize on the universal appeal of movies, television, sports,
music, and other leisure time activities. The company's worldwide
operations offer products and services in the restaurant, retail,
leisure, and entertainment sectors including, under license, the
Planet Hollywood Resort & Casino, the hottest new property on
the Las Vegas Strip featuring over 100,000 square feet of gaming,
fine dining restaurants, an award-winning buffet, casual dining
options, lounges and nightclubs. Additional Information This press
release is neither an offer to purchase nor a solicitation of an
offer to sell securities. The tender offer has been made pursuant
to a tender offer statement and related materials. BUCA
shareholders are advised to read the tender offer statement and
related materials, which have been filed by Planet Hollywood with
the U.S. Securities and Exchange Commission (the "SEC"). The tender
offer statement (including the offer to purchase, letter of
transmittal and related tender offer documents) filed by Planet
Hollywood with the SEC and the solicitation/recommendation
statement filed by BUCA with the SEC contain important information
which should be read carefully before any decision is made with
respect to the tender offer. The tender offer statement and the
solicitation/recommendation statement have been mailed to all BUCA
shareholders of record. The tender offer statement and related
materials may be obtained at no charge by directing a request by
mail to the Altman Group, Inc., 1200 Wall Street West, Lyndhurst,
NJ 07071, or by calling toll-free at (866) 530-8628, and may also
be obtained at no charge the website maintained by the SEC at
http://www.sec.gov/. DISCLOSURE NOTICE: The information contained
in this release is as of September 24, 2008. Except as required by
law, Planet Hollywood does not assume any obligation to update any
forward-looking statements contained in this release as a result of
new information or future events or developments. Some statements
in this release may constitute forward-looking statements. Planet
Hollywood cautions that these forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those indicated in the forward-looking
statements, including the risk that the tender offer may not be
completed or the merger may not be consummated for various reasons,
including the failure to satisfy the conditions precedent to the
completion of the acquisition. DATASOURCE: Planet Hollywood
International, Inc. CONTACT: Media, Amy Sadowsky, +1-702-785-5815;
Investor Relations, The Altman Group, +1-866-530-8628; all for
Planet Hollywood International, Inc. Web site:
http://www.planethollywood.com/
Copyright
Buca (NASDAQ:BUCA)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Buca (NASDAQ:BUCA)
Historical Stock Chart
Von Jun 2023 bis Jun 2024